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When Warren Buffet and NAR Speak About the Housing Market – People Listen

If you wait till you see the first robin, spring'll be over. And well, spring is over, but we're not in the dead of winter yet, either,billionaire investor, Warren Buffet said in a recent interview on CNBC while being queried on the housing market and investing. Realtors who have been around the cyclical block a few times like to say that by the time you read about a market turning around in the media, it has been that way for at least two months, giving credence to Buffets robin analogy. According to the…continue reading →

The “Facebook IPO Effect” and the Silicon Valley Housing Market

As soon as Facebook announced its pending IPO, many Realtors and mortgage professionals in the Silicon Valley were anticipating the ripple effect into the local housing market. Potential home buyers are worried that perhaps home prices will rise with all this new found wealth flooding the market. The dilemma is that consistently low inventory available on the Peninsula is putting pressure on housing prices. The folks at Altos Research, a Mountain View real estate data analytics company, wrote a compelling, and stats filled post on the true reach of the "Facebook Effect" on…continue reading →

$18 billion in mortgage relief for troubled California homeowners

California Attorney General Kamala Harris may be a hero to many Californians struggling with their home loans after obtaining a $25 billion multi-state agreement with major banks over a document signing scandal. The Mercury News broke this story recently about the agreement. Of course, this news comes too late for many people who lost their homes during the downturn in the housing market, but there are provisions for restitution. Part of the "make it right" aspect of this agreement is to repair communities blighted by foreclosures. Harris said the agreement gives California: *…continue reading →

San Jose Housing Market Recovering As Spring Market Heats Up

Spring 2012 Housing market for San Jose and Santa Clara County appears to be off to a strong start according to real time market data and Realtors anecdotal reports. The median price for a single-family home in San Jose, CA is $477,000, up from $463,000 in February of 2009. The median home price for Santa Clara County in January was $648,238. Back in February 2007, the median price in San Jose was $715,000, according to historical statistical data from the Santa Clara County Association of REALTORS. According to a recent Rismedia report, housing…continue reading →

Santa Clara County Real Estate Market Report – January 2012

sales for Single Family started in a slump this year. 556 Single Family sales is the lowest total since February 2008. Even the Median/Average Price took a dip both from last month and the same month from a year back. This is the 15th month in a row the median price for homes have been lower than a year before. Get all the statistics in the table below. Santa Clara County Condominium Market Report: Condo Sales too were off 38% from a month back, but up slightly from January 2011. The median prices…continue reading →

New HARP 2.0 Alert – Full Launch By Lenders Expected on March 17, 2012

New HARP (Home Affordable Refinance Program), also called Obama Government Refinance Program is expected to be fully launched on March 17, 2012. Even though the program was announced in December, 2011 the lenders have been slow in offering this new and enhanced program to California homeowners with underwater mortgages. One of the reasons was that Fannie Mae hasn't made changes to it's internal underwriting system for these loans to be underwritten. Get a HARP Rate Quote Now In a recent announcement however, Fannie Mae mentioned that the necessary changes will be made to…continue reading →

Mortgage Production Volume Down and Real Estate Sales up in 2012?

The Real Estate sales is expected to inch higher, while mortgage production volume is predicted to go down , according to economists at Fannie Mae. The second half of the year should outpace the first six months in terms of growth, though fiscal policy and political uncertainty in Washington will likely drive consumer and business activity, the mortgage giant said. Fannie Mae Chief Economist Doug Duncan said - Positive consumer activity and challenges in housing and the global economy will equate to moderate growth for the year. We're entering 2012 with decent momentum,…continue reading →

FHA Extends Waiver of 90 Day Flip Regulation Till End of 2014

* The below post was originally published on Dec 22, 2011. In Dec 2012, FHA issued a notice announcing that the Flip waiver has now been extended till end of 2014. All other information in the post remains valid.** In an effort to continue stabilizing home values, Acting Federal Housing Administration (FHA) Commissioner Carol J. Galante has today extended FHA temporary waiver of the anti-flipping regulations through December 31, 2012. With certain exceptions, FHA regulations prohibit insuring a mortgage on a home owned by the seller for less than 90 days. In 2010,…continue reading →

Shashank Shekhar is Voted “Top 40 Under 40” Most Influential Mortgage Professionals

I am extremely delighted to report that National Mortgage Professionals Magazine has voted me as "Top 40 Under 40" most influential mortgage professionals. In a rigorous process that involves nationwide voting and a review by the magazine judges - only the best in the country are chosen. While selecting me as one of the winners, the magazine noted - Shashank Shekhar is the chief Executive Officer of Arcus Lending, Author of the Blog LendingExpertBlog and author of 2 books on Real Estate. A Social Media expert, Shashank helps incorporate social media ideas in…continue reading →

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